Chinese President Xi Jinping will chair a symposium next week to address the challenges facing China's private sector, including escalating tensions with the US and slowing economic growth. The event will include prominent business leaders like Jack Ma and Pony Ma, with Xi expected to encourage domestic and international expansion amidst a growing Sino-US technology rivalry.
President Xi Jinping first chaired a high-profile symposium for the private sector in late 2018, six years after he came to power.BEIJING: Chinese President Xi Jinping plans to chair a symposium to boost private sector sentiment next week that will be attended by the country's business leaders including Alibaba co-founder Jack Ma, three people with knowledge of the meeting said.
The symposium is likely to take place on Monday , said three sources. News of the symposium was first reported by Reuters. The State Council Information Office, which handles media queries on behalf of the state leaders, did not immediately respond to a Reuters query about the event.Hong Kong-listed shares in Alibaba, Tencent and Xiaomi extended gains in afternoon trade on the news. Xiaomi finished at a record high with a 7 per cent gain. Tencent also closed 7 per cent higher while Alibaba ended up 6 per cent.
In recent years, Xi has emphasised China's need to achieve"common prosperity", saying private firms should be"rich and loving" as well as"patriotic" and share the fruits of their growth with employees more equitably.
CHINA XIPING PRIVATE SECTOR TECHNOLOGY ECONOMY
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